PetroChina is in negotiations with British chemical company Ineos Group to acquire a stake in Grangemouth refinery, Bloomberg reports.
If finalised the deal, which was revealed by a Scottish Government official, will give PetroChina its first refinery in Europe and an opportunity to tap into oil recovery projects in the North Sea.
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Ineos, on the other hand, has been looking out for partners to bail it out of a €7.5bn debt.
